Strong monsoon helps cushion Mahindra’s September auto sales decline

Mahindra & Mahindra, one of India’s biggest home-grown automakers, reported continued pain in its passenger vehicle department, but sales decline a its commercial vehicle and tractor divisions seemed to show signs of moderation in September. Domestic sales of passenger vehicles were down 33% in September, doing worse than August, when they had declined 32%. The […]

BS-VI to hurt sales of diesel cars, boost electric vehicles – M&M

The introduction of BS-VI fuel standard a year from now is expected to make small diesel engines too expensive to be of practical use and push the market for smaller vehicles towards petrol, CNG and electric vehicles, automaker Mahindra & Mahindra said. Managing Director Pawan Goenka said the share of diesel engines in cars has […]

BS-VI switchover could bring mega deals for consumers

Consumers planning to purchase a vehicle towards the end of this year may consider postponing their purchase as automakers may offer big discounts in February and March in an attempt to flush out old stock ahead of the shift to BS-VI fuel standards. According to a judgement by the Supreme Court, no automaker can sell […]

Mahindra raises stake in Finnish agri machinery firm Sempo to 49%

Indian auto maker Mahindra & Mahindra said it has agreed to increase its voting rights in Scandinavian farm equipment maker Sempo to 49.04% from 35% by acquiring shares and convertible instruments at a cost of 4.66 mln euros, or around Rs 37.74 cr. Sempo, founded in 1853 in Finland, had revenue of around 52 mln […]

Mahindra acquires Carnation Auto service chain

Mahindra First Choice Services, the servicing arm of Mahindra & Mahindra, said it has agreed to acquire the assets of bankrupt auto-service chain Carnation Auto (India). The company did not disclose the exact number of service centers that will accrue through the deal, but said the acquisition will “add significantly” to its current network of […]

TREO: Mahindra launches electric auto with 170 km range, Rs 1.3 lakh price

Mahindra & Mahindra, the second largest Indian automaker, today announced the launch of Treo, a range of electric three-wheelers priced at Rs 1.36 lakh onwards with a range of 170 km per charge. Unlike other affordable electric vehicles such as bikes, the Treo uses the costly lithium ion battery to reduce weight and increase its […]